Medibank Private a 'quick buck' for governments

Updated April 23 2018 - 8:27pm, first published November 3 2014 - 3:00am

I see that the government will make one last raid on the money belonging to Medibank Private members when it grabs $238.8 million before the organisation is sold. The grab comprises $100.8 million in dividends for 2013-14 and 2015, plus $138 million from retained earnings. The government is thus not only benefiting from the decision of the first Rudd Labor government to convert Medibank Private to ''for profit'' status, but is blatantly reducing the reserves of the organisation.

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